Teva to raise $1.5b in Switzerland

Teva Pharmaceutical Industries Ltd. will raise $1.5 billion in euro and Swiss franc denominated bonds in Switzerland. The company did not disclose the interest rate or maturity of the bonds.

Globes reported that Teva’s bond debt now totals $10 billion. In its financial report for 2011, Teva reported that its debt grew by $7.6 billion in 2011, due to the acquisitions of Cephalon Inc. in the US and Taiyo Pharmaceutical Co. Ltd. in Japan. The company’s debt-to-capital ratio rose to 39% at the end of 2011 from 24% a year earlier.

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